The Feil Organization leases 20,955 s/f to Eaglestone at 551 Fifth Avenue

Manhattan, NY The Feil Organization has signed a 10-year, 20,955 s/f lease at 551 Fifth Ave. with Eaglestone LLC, a holding company that acquires and supports best-in-class companies in the mechanical, fire protection, plumbing, and electrical sectors, with a particular focus on the Northeast. The asking rent was $58 per s/f.

PJ Mechanical, a leading industry trade subsidiary of Eaglestone LLC, will occupy most of the space in the planned relocation. The remaining space will be divided between Eaglestone LLC’s NYE&E subsidiary and its corporate headquarters. This move was prompted by both the need to relocate due to an office-to-residential conversion of its former 55 Broad St. offices and a desire to combine office space.

Feil was represented in-house by Andrew Wiener and Randall Briskin for the transaction.

“In response to a strategic need to relocate, our team took an all-hands-on-deck approach to make sure Eaglestone LLC was able to move into new space quickly and efficiently,” said Andrew Wiener, head of commercial leasing at The Feil Organization. “We maintained regular meetings with the firm, ensuring clear communication with our team to skillfully tailor their new space at 551 Fifth Ave. in order to meet their needs.”

“We’re looking forward to ushering in a new chapter for our company as we further support the growth of our esteemed subsidiary,” said Jason Richards, CEO of Eaglestone LLC. “As the Feil Organization worked tirelessly to customize the ninth floor at the Fred F. French Building, they proved to be invaluable partners for our next decade of success. We are more confident than ever in our mission to enhance the employee experience across our business as we celebrate this prime new Midtown location.”

“Peter and I are thrilled to be moving PJ Mechanical to Midtown’s renowned Fred F. French building. We are looking forward to many years of continued success while we service our customers from this iconic building,” said Jamie and Peter Pappas, chief executives of PJ Mechanical. 

551 Fifth Ave., also known as the Fred F. French building, is a class-A office skyscraper in Midtown. Completed in 1927, the building is a New York City designated landmark and was added to the National Register of Historic Places in 2004. The iconic Art Deco design by Sloan & Robertson was restored in the early 1990s. Now, the fully renovated tower offers a variety of amenities such as close proximity to Grand Central, on-site management, restaurants, retail, car-charging stations and more.